For many US retirees it makes more sense financially to live out their golden years abroad. Central America is an attractive choice given its close location to the US. You can travel to the region overland or choose one of the many daily direct flights from US airline hubs. Costa Rica consistently attracts a higher number of retirees than it’s regional neighbors. Here are some of the reasons why.
An important factor underpinning Costa Rica’s popularity is the sense that retirees are following a relatively well-trodden path. Costa Rica already has the largest population of US expatriates in the region and has been a top tourism and retirement spot for decades.
Costa Rica has led the region’s policy approach to retirees by launching the first ‘retiree program’ offering tax benefits, exemptions and discounts. Panama, Nicaragua and Belize now all have their own retiree programs, based on a similar approach, but Costa Rica was the first country to actively put in place policies to attract retirees to its borders.
Costa Rica’s tourism slogan is “No artificial ingredients” draws on its long tradition of environmental protection. And it’s not just tourist who respond well to countries that manage their biodiversity well. Retirees in Costa Rica also enjoy the national parks and beautiful landscapes in Costa Rica.
Retirees normally move to more established parts of the country that are well serviced with amenities and infrastructure and Costa Rica has a number of well developed second home and retirement destinations to choose from. The country is often referred to as “The Switzerland of Central America” and this combined with a stable democratic government and diverse economy does much to build confidence in the minds of investors, tourists and those interested in a Costa Rica retirement.
And of course Costa Rica offers a lower cost of living than in the US and real estate for sale in Costa Rica is more affordable. It may not be quite as cheap as counties such as Nicaragua, but still provides many retirees with the kind of lifestyle they could not afford back home.
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